8 Nov 2013

Warehouse Q1 sales up

12:22 pm on 8 November 2013

First quarter sales for The Warehouse rose 51%, largely reflecting the company's purchase of the Noel Leeming business in December last year.

Sales at the traditional Red Sheds rose 8.8% in the three months, and sales at Warehouse Stationery grew 10.3%.

The sales growth reflects better performance from Auckland stories and double-digit growth in sales in categories such as apparel, housewares and consumer electronics.

However, the sales growth has not yet translated into growth in gross profit.